African mobility fintech Moove is seeking to raise over $300 million in fresh equity at a valuation exceeding $2 billion, positioning it among Africa’s most valuable startups, according to people familiar with the matter.
Nigerian startups secured over $4.8 million in funding across 10 deals in July 2025, led by digital credit recovery and debt management platform, Bfree, and Mobility fintech firm Moove.
African mobility fintech startup, Moove, is on the verge of securing a $1.2 billion debt financing round to support the rollout of a fleet of autonomous vehicles in partnership with Alphabet Inc.’s Waymo in the United States.
This article features Top 10 Nigerian Startups by funds raised in 2024
Moove, a global leader in mobility solutions, has announced the acquisition of Kovi, an urban mobility provider headquartered in São Paulo, Brazil.
The report shows that 64 ventures received at least $100,000 in funding, a very high number compared to previous months, while 17 startups raised at least $1 million.
According to the report, Nigerian startups received $4.4 billion out of the $15 billion that came into Africa between 2019 and 2023.
Moove alone accounted for 24% of the total funds raised by African startups in the first three months of this year.
Nigerian startup, Moove has raised $100 million in a Series B round led by Uber bringing its valuation to $750 million
Startups across Africa raised a total of $217 million in February 2024, representing a 182% increase when compared with January.
Uber Technologies Inc. is reportedly in talks to invest the sum of $100 million in African vehicle-financing startup Moove.
In a total shift from the funding boom recorded in 2021 and the early part of 2022, Nigerian startups have experienced a significant slowdown in funding in 2023.
